Rentokil Initial (NYSE:RTO) Sets New 52-Week High – Here’s What Happened

Rentokil Initial PLC (NYSE:RTO)’s share price hit a new 52-week high on Monday . The company traded as high as $31.92 and last traded at $32.0650, with a volume of 20186 shares. The stock had previously closed at $31.61.

Wall Street Analyst Weigh In

A number of research firms have recently commented on RTO. Jefferies Financial Group raised shares of Rentokil Initial to a “strong-buy” rating in a report on Wednesday, October 8th. Sanford C. Bernstein raised shares of Rentokil Initial from an “underperform” rating to an “outperform” rating in a report on Tuesday, October 7th. Zacks Research upgraded shares of Rentokil Initial from a “strong sell” rating to a “hold” rating in a research report on Friday, October 10th. Morgan Stanley upgraded shares of Rentokil Initial from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, January 6th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Rentokil Initial in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $34.00.

Rentokil Initial Price Performance

The stock has a 50-day moving average of $28.60 and a 200 day moving average of $26.38. The company has a quick ratio of 1.03, a current ratio of 1.12 and a debt-to-equity ratio of 0.79.

Hedge Funds Weigh In On Rentokil Initial

Several hedge funds have recently added to or reduced their stakes in the stock. Jane Street Group LLC lifted its holdings in shares of Rentokil Initial by 292.0% during the 1st quarter. Jane Street Group LLC now owns 117,341 shares of the company’s stock valued at $2,687,000 after purchasing an additional 87,405 shares in the last quarter. Parallel Advisors LLC lifted its stake in Rentokil Initial by 416.9% in the second quarter. Parallel Advisors LLC now owns 1,132 shares of the company’s stock valued at $27,000 after buying an additional 913 shares in the last quarter. Arlington Partners LLC acquired a new position in shares of Rentokil Initial in the second quarter valued at approximately $1,639,000. Patriot Financial Group Insurance Agency LLC increased its position in shares of Rentokil Initial by 15.9% during the second quarter. Patriot Financial Group Insurance Agency LLC now owns 16,649 shares of the company’s stock worth $400,000 after acquiring an additional 2,288 shares in the last quarter. Finally, Cromwell Holdings LLC raised its holdings in shares of Rentokil Initial by 397.3% during the second quarter. Cromwell Holdings LLC now owns 2,546 shares of the company’s stock worth $61,000 after acquiring an additional 2,034 shares during the period. Institutional investors and hedge funds own 9.91% of the company’s stock.

About Rentokil Initial

Rentokil Initial PLC is a global business services company specializing in pest control, hygiene and workwear services. Headquartered in Crawley, West Sussex, United Kingdom, the company delivers outsourced solutions designed to protect people, preserve assets and enhance workplaces for both commercial and residential customers.

Under the Rentokil Pest Control brand, the company offers services ranging from routine inspections and treatment of insects, rodents and birds to specialised programmes for food manufacturing and healthcare environments.